Gabelli Global Correlations

GGMMX Fund

USD 10.62 0.02 0.19%

The current 90-days correlation between Gabelli Global Mini and Artisan Small Cap is 0.7 (i.e., Poor diversification). The correlation of Gabelli Global is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Gabelli Global Correlation With Market

Very weak diversification

The correlation between Gabelli Global Mini and DJI is 0.53 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gabelli Global Mini and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Gabelli Global Mini. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with Gabelli Mutual Fund

0.65	EMACX	Enterprise Mergers And	Pair Corr
0.62	EMAAX	Enterprise Mergers And	Pair Corr
0.64	GVCAX	Gabelli Value	Pair Corr
0.65	GVCCX	Gabelli Value	Pair Corr
0.63	GVCIX	Gabelli Val	Pair Corr
0.96	GGCAX	Gabelli Growth	Pair Corr
0.96	GGCCX	Gabelli Growth	Pair Corr
0.95	GGCIX	Gabelli Growth	Pair Corr
0.81	GGGAX	Gamco Global Growth	Pair Corr
0.81	GGGCX	Gamco Global Growth	Pair Corr
0.81	GGGIX	Gamco Global Growth	Pair Corr
0.81	GICPX	Gamco Global Growth	Pair Corr
0.62	EAAAX	Enterprise Mergers And	Pair Corr
1.0	GMNAX	Gabelli Global Mini	Pair Corr
1.0	GMNCX	Gabelli Global Mini	Pair Corr

Moving against Gabelli Mutual Fund

0.53	GLDAX	Gabelli Gold	Pair Corr
0.53	GLDCX	Gabelli Gold	Pair Corr
0.53	GLDIX	Gabelli Gold	Pair Corr
0.46	DRCVX	Comstock Capital Value	Pair Corr
0.41	GGLCX	Gamco Global Opportunity	Pair Corr
0.41	GLOIX	Gamco Global Opportunity	Pair Corr
0.53	GOLDX	Gabelli Gold	Pair Corr
0.49	COMVX	Comstock Capital Value	Pair Corr

Related Correlations Analysis

	ARTSX	CCMSX	QLMSTX	LMBMX	SECAX	HSCVX	PMDDX
ARTSX		0.0	0.93	0.97	0.9	0.96	0.94	ARTSX
CCMSX	0.0		0.0	0.0	0.0	0.0	0.0	CCMSX
QLMSTX	0.93	0.0		0.92	0.84	0.95	0.93	QLMSTX
LMBMX	0.97	0.0	0.92		0.96	0.97	0.93	LMBMX
SECAX	0.9	0.0	0.84	0.96		0.93	0.89	SECAX
HSCVX	0.96	0.0	0.95	0.97	0.93		0.97	HSCVX
PMDDX	0.94	0.0	0.93	0.93	0.89	0.97		PMDDX
	ARTSX	CCMSX	QLMSTX	LMBMX	SECAX	HSCVX	PMDDX

Click cells to compare fundamentals

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

LMBMX	+ 0.97	ARTSX
HSCVX	+ 0.97	LMBMX
PMDDX	+ 0.97	HSCVX
HSCVX	+ 0.96	ARTSX
SECAX	+ 0.96	LMBMX
HSCVX	+ 0.95	QLMSTX

High negative correlations

PMDDX	- 0.0	CCMSX
HSCVX	- 0.0	CCMSX
SECAX	- 0.0	CCMSX
LMBMX	- 0.0	CCMSX
QLMSTX	- 0.0	CCMSX
CCMSX	- 0.0	ARTSX

Risk-Adjusted Indicators

There is a big difference between Gabelli Mutual Fund performing well and Gabelli Global Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Gabelli Global's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
ARTSX	1.15	(0.10)	(0.16)	2.22	(3.17)	5.69
CCMSX	0.00	0.00	0.00	0.00	0.00	0.00
QLMSTX	1.03	(0.09)	(0.15)	1.71	(2.77)	5.65
LMBMX	1.05	(0.16)	(0.20)	1.96	(2.70)	5.60
SECAX	1.06	(0.23)	(0.30)	1.46	(2.57)	11.65
HSCVX	0.79	(0.09)	(0.18)	1.42	(1.78)	3.38
PMDDX	0.82	(0.08)	(0.16)	1.31	(1.78)	3.94

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